Rivian, the electric vehicle (EV) manufacturer, made a surprising announcement at an event that was primarily focused on their new R2 SUV. They unveiled an unexpected addition to their lineup – an all-electric hatchback called the R3. This move was reminiscent of Apple’s famous “one more thing” announcements, adding an element of excitement to the event.
The design of the R3 hatchback bears similarities to the Honda e, an electric hatchback that gained popularity among EV enthusiasts a few years ago. It also has a boxier appearance, reminiscent of the Volkswagen Golf. This new model represents Rivian’s entry into the smaller EV market, a segment currently dominated by Tesla. While the existence of an “R3” model was known, its actual appearance surprised many.
Although Rivian did not provide specific details about the availability or pricing of the R3, it is expected to be several years away from production. CEO RJ Scaringe hinted that it would be manufactured at the company’s upcoming factory in Georgia, which is yet to be built.
What we do know is that the R3 will have a slightly shorter wheelbase compared to the R2, measuring 2800 mm instead of 2935 mm. Additionally, there will be a sporty and colorful variant called the R3X. The R3 will be built on the same platform as the R2, offering a sense of familiarity to Rivian customers. It is expected to be more affordable than the $45,000 R2. Similar to its larger sibling, the R3 will be available in single-, double-, and tri-motor variants. However, preorders for the R3 are not yet being accepted.
During the event, Scaringe described the R3 as a crossover that encapsulates Rivian’s brand and values. He emphasized how it takes the packaging and platform of the R2 and shrinks it into a more compact and versatile vehicle. The exact definition of the R3 may be difficult to pin down, but it aligns with Rivian’s vision as a company.
The introduction of the R3 comes at a crucial time for Rivian, as it aims to increase its production volume. The company plans to build a similar number of cars this year as it did in 2023, which disappointed Wall Street. However, the surprise reveal of the R3 had an immediate positive impact on Rivian’s stock price, injecting confidence into the market.
While many questions remain unanswered, such as the price range and the working status of the prototype showcased at the event, it is refreshing to see Rivian expanding its product portfolio beyond heavy pickup trucks and SUVs. The R3 represents a more approachable and potentially more affordable option for consumers interested in electric vehicles.
Rivian’s foray into the hatchback market demonstrates their commitment to innovation and their willingness to compete with industry giants like Tesla. As the EV market continues to grow, Rivian’s expansion into smaller, more affordable models will likely attract a broader range of customers. With the R3, Rivian is poised to make a significant impact in the EV industry and solidify its position as a key player in the market.
Image Credits: Rivian, TechCrunch
